NZDUSD Breaking Triangle

Pair NZDUSD on H4 timeframe has broken the descending triangle to the upside. 

NZDUSD H4

But previous highs of 18-Oct is restraining price so far. This horizontal area has provided resistance previously also.  Break and close above this area brings focus to next resistance which comes at 5-Oct highs. 

The trendline is expected to provide support on any pullbacks. I am expecting a pull back to the trendline as pair looks quite overbrought.This is a good place to go short and I am opening a small short of 0.8226.


For long, I will wait for a touch and bounce of trendline. Near the trendline comes 100EMA and 200EMA.